President Ferdinand 'Bongbong' Marcos Jr. told the Department of Finance (DOF) to continue looking into the current tax system in the country and find ways to level the playing field between foreign and local businesses. ManilaBulletin
President Ferdinand "Bongbong" Marcos Jr. told the Department of Finance to continue looking into the current tax system in the country and find ways to level the playing field between foreign and local businesses.Marcos presided over a meeting with his Cabinet members on Tuesday morning, May 30, to discuss the country's tax system as a response to calls to review it.
"It's not a perfect system so we will look for improvements but right now our revenue system is doing well," Diokno added. He explained that those reform packages were designed to provide income tax relief to the majority of the taxpaying community while generating revenues by increasing the tax on lifestyle products and services consumed by the top 1 percent wealthiest individuals.
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